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Carluccio's agrees 142p a share bid
Wed, 08 Feb, 2012
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Carluccio's agrees 142p a share bid
Thu, 2 Sep 2010, 16:44:00
Italian restaurant chain <b>Carluccio's</b> has agreed a bid from C1 Acquisitions, the bid vehicle of Dubai-based Landmark Group. C1 is offering 142p a share for Carluccio's, which values it at £90.3m. Management is rolling over its stake and options in Carluccio's into a 17.2% stake in C1, plus £1.4m of loan notes. Landmark already owns 5.1% of Carluccio's, which operates 47 restaurants in the UK and has four franchised restaurants outside of the UK. Carluccio's joined AIM on 14 December 2005. It was valued at £53.6m at the placing price of 94.5p a share. Brokers' are forecasting profits of around £5m for the year to September 2010. Landmark is a retail and hospitality group and it holds the franchise for the three Carluccio's restaurants in Dubai.
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